The Federal Home Loan Bank of Pittsburgh, which warned last month that its capital level could slide below required minimums, said Thursday that its net income fell 91.8% last year, to $19.4 million.
Total capital declined 3.5%, to $4.1 billion. The bank did not say whether that was below required levels; a spokesman said the Federal Housing Finance Agency would make that determination.
The Pittsburgh bank was forced to take a $266 million other-than-temporary impairment charge. The Home Loan Bank of Boston posted a $73.2 million loss for 2008, also because of impairment charges.
